{"id":9168,"date":"2015-06-17T06:14:00","date_gmt":"2015-06-17T11:14:00","guid":{"rendered":"http:\/\/olduvai.ca\/?p=9168"},"modified":"2015-06-17T06:14:00","modified_gmt":"2015-06-17T11:14:00","slug":"the-next-great-european-financial-crisis-has-begun","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=9168","title":{"rendered":"The Next Great European Financial Crisis Has Begun"},"content":{"rendered":"

The Next Great European Financial Crisis Has Begun<\/a><\/h3>\n

\"European<\/a>The Greek financial system is in the process of totally imploding, and the rest of Europe will soon follow.\u00a0 Neither the Greeks nor the Germans are willing to give in, and that means that there is very little chance that a debt deal is going to happen by the end of June.\u00a0 So that means that we will likely see a major Greek debt default and potentially even a Greek exit from the eurozone.\u00a0 At this point, credit default swaps on Greek debt have risen\u00a0456 percent<\/strong>\u00a0in price since the beginning of this year, and the market has priced in a\u00a075 percent<\/strong>\u00a0chance that a Greek debt default will happen.\u00a0 Over the past month, the yield on two year Greek bonds has skyrocketed from 20 percent to\u00a0more than 30 percent<\/strong>, and the Greek stock market has fallen by a total of\u00a013 percent<\/strong>\u00a0during the last three trading days alone.\u00a0 This is what a financial collapse looks like, and if Greece does leave the euro, we are going to see this kind of carnage happen all over Europe.<\/p>\n

Officials over in Europe are now openly speaking of the need to prepare for a \u201cstate of emergency<\/a>\u201d now that negotiations have totally collapsed.\u00a0 At one time, it would have been unthinkable for Greece to leave the euro, but now\u00a0it appears\u00a0 that this is precisely what will happen<\/a>\u00a0unless a miracle happens\u2026<\/p>\n

Greece is heading for a state of emergency and an exit from the euro following the collapse of talks to agree a bailout deal, senior EU officials warned last night.<\/p>\n

Europe must be prepared to step in otherwise Greek society would face an unprecedented crisis with power blackouts, medicine shortages and no money to pay for police, they said.<\/p><\/blockquote>\n

…click on the above link to read the rest of the article…<\/p>\n","protected":false},"excerpt":{"rendered":"

The Next Great European Financial Crisis Has Begun The Greek financial system is in the process of totally imploding, and the rest of Europe will soon follow.\u00a0 Neither the Greeks nor the Germans are willing to give in, and that means that there is very little chance that a debt deal is going to happen […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[200,6069,2467,279,280,281,2246,284,312,359,1167,2598,4901,1138],"class_list":["post-9168","post","type-post","status-publish","format-standard","hentry","category-economics","tag-default","tag-economic-collapse-blog","tag-emu","tag-eu","tag-euro","tag-europe","tag-european-monetary-union","tag-european-union","tag-financial-crisis","tag-germany","tag-greece","tag-grexit","tag-michael-snyder","tag-stock-market"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/9168","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9168"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/9168\/revisions"}],"predecessor-version":[{"id":9169,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/9168\/revisions\/9169"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9168"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9168"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9168"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}